For six years they researched and analyzed opportunities to land in Spain. And yet, Trinity group He achieved this with the most unexpected move, an almost lightning operation. The Colombian company, which is an industrial giant in the steel, coal and logistics sectors, among other businesses in its country, managed to close in only four months after many years of research. A deal was made with Grupo Dia to take control of Clarel. Perfume and pharmacy chain with more than 1,000 stores and three logistics centers in Spain.
distribution group Dia broke its deal with C2 Private Equity fund At the end of July due to non-compliance with some of the agreed conditions. Investment banks then began offering the chain to Trinity; At the end of August the Colombian group had already made a non-binding offer; and at the beginning of December both sides announced the operation with great fanfare; Permission is still awaited from Spanish authorities. “The entire process was fast, efficient and very straightforward. We believe we will have the permits and be off the ship by the first week of April,” he predicts. Omar González, president of Trinity, In a conversation with El Periódico de España of the Prensa Ibérica group at the group’s new offices in Madrid.
The operation is a financial jewellery: Trinity will pay at least 11.5 million euros this year and a maximum of 15 million euros in 2029, and It will also gradually pay off its debt of 18.7 million. (net impact will be 15.7 million) in three payments over the next six years. Ultimately, the maximum cost the Colombian group will incur, subject to a series of financial and commercial milestones, will be 42.2 million (well below the 60 million agreed for the unsuccessful sale to the C2 fund).
“I have little doubt that this will be the final cost. Calculations are made very meticulously. The system is seemingly complex, but It involves paying the right amount, at the right time, with appropriate financial instruments“, sums up González, admitting that part of the operation will be financed through repression directly agreed with Dia.
There will be no revolution
Trinity’s plans for Clarel, the reference brand in the beauty and cleaning distribution business in the Spanish market, are not disruptive. The buying group, which is making its debut in the distribution business, will ensure continuity of the management team and Clarel’s approximately 3,200 employees and will take time to learn about the industry and the workings of the company before making an offer for it. new support. “First we will learn and understand the business, then we will give our opinion, then we will build on what has already been built.” Trinity’s intention is to study all the details of the group for at least half a year and publish it at the end of this year. A new strategic plan for the 2025-2027 period.
A new road map in a predictable way Reorganization of the 1,000-store chain It spread across the country, with some businesses closing, others opening, and some locations moving to find better locations. “It is necessary to examine new locations and new markets. Clarel needs to be a leader in the inner circle. “We want to be closer to customers, and that will likely lead to new openings.” Being closer to customers also includes giving a decisive move towards online sales, Today, Clarel is now in business and uses big data and artificial intelligence tools to better profile customers.
Trinity predicts that Clarel will close last year with increasing figures, with sales of around 340 million euros and gross operating results (advantage) of 10 million. Income will remain stable this year and profitability, which will likely suffer due to the chain’s renovation investment plan, in which the company plans to gradually introduce a new store concept according to the expectations of the new owner.
growing up in spain
“The acquisition of Clarel is just our first step in the Spanish market. Our focus over the next 12 or 24 months will be solely on Clarel. But our organization is clearly open to listening to more opportunities,” emphasizes González, who holds dual Colombian and Spanish citizenship and plans to distribute his year-round residence equally between both countries from now on.
“Our hearts, minds and eyes will only be on Clarel, we don’t want any more distractions. The company will participate in negotiations when we feel that we are consolidated and our position is solid. Frankly, we have already started receiving ideas and the investment department is examining them. However “We do not see the possibility of one or a series of acquisitions occurring in the short term.”summarizes the execution.
So far Trinity has concentrated almost all of its activity in Colombia (accounting for more than 90% of $650 million in annual turnover). [unos 600 millones de euros]) and had a nascent presence in Costa Rica and Canada. With the acquisition of Clarel Spain will directly represent approximately one-third of the company’s revenue and the goal is for the weight not to stop growing. “We hope that Spain will represent at least 50% of our turnover within three years,” he says.